>Automobile and Farm Equipment sectors

M&M’s Auto, Tractor sales surge in March 2021

Mahindra & Mahindra Ltd.’s Farm Equipment Sector (FES), a part of the USD 19.4 billion Mahindra Group, posted total tractor sales (domestic + exports) at 30,970 units during March 2021, as against 13,613 units for the same period last year.

Hemant Sikka, President - Farm Equipment Sector, Mahindra & Mahindra Ltd. said, “We have sold 29,817 tractors in the domestic market during March 2021 with a growth of 122 per cent over last year. The impact of lower base coupled with continued positive sentiments driven by healthy reservoir levels, higher MSP and increased liquidity, have led to strong wholesale growth in March. Tractor demand is expected to remain strong as Rabi harvesting is progressing well along with the onset of sowing of summer crops in select markets. In the exports market, we have sold 1,153 tractors, a growth of 491 per cent over last year.”

Meanwhile, its overall auto sales (passenger vehicles + commercial vehicles + exports) for the month of March 2021 stood at 40,403 vehicles, compared to 6,679 in March 2020.

In the utility vehicles (UVs) segment, Mahindra sold 16,643 vehicles in March 2021, compared to 3,111 vehicles in March 2020. The passenger vehicles segment (which includes UVs, cars and vans) sold 16,700 vehicles in March 2021. The growth in March 2021 over March 2020 has been unprecedented and is not comparable given the onset of pandemic during mid-March last year.

Veejay Nakra, Chief Executive Officer, Automotive Division, M&M Ltd. said: “At Mahindra we are witnessing very good momentum in demand and have a strong pipeline of bookings across our SUV range of Bolero, Scorpio, XUV300, All New Thar and also the Bolero Pik-up. Infact, Bolero volumes for March has been the highest in this financial year and despite supply constraints, we have been able to ramp up production of Bolero Pik-up significantly during the month. We expect supply challenges to remain for the next two to three months and then ease out gradually.”

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